Runa Capital Increases Total Size to US$50M

Runa Capital, a Russian venture capital fund, will increase its total size to US$50m.

Originally established with commitments of US$30m, the expansion aims to provide young Russian and CIS high-tech companies with more capital from Runa, whose focus remains on investing in rapid growth tech sectors, including cloud computing, machine learning, virtualisation and mobile & internet applications.

New partners include Edward Nicholson, former CEO of Brunswick-UBS in Russia and the CIS, and Alexander Katalov, investor in Begun, Softkey, Alawar and ElcomSoft.

As also stated by Dmitry Chikhachev, managing partner, in 2010 Runa Capital invested in OnAir3G and Hivext.com and intends to announce another eight to ten transactions in 2011.